Friday, August 26, 2011

Verizon Wireless move forward Mobile Payments at Retail to Drive Smartphone Transaction


Verizon Wireless will be adding one more item to the accessory rack in its stores.
The wireless carrier has formed a strategic alliance with Intuit to start selling that company’s GoPayment credit card reader in its 2,300 retail stores and other distribution channels.
ntuit’s GoPayment card reader plugs into the audio jack of most Android, BlackBerry and Apple smartphones and tablets.
And since it requires a smartphone, Schaefer says he believes it could drive more high-end phone sales among small-business owners.
Other devices on the market offer similar services, but Schaefer said Verizon picked Intuit’s card reader to exclusively feature in its stores. He declined to disclose the terms of the agreement. Other similar products are available from Square and VeriFone.
Verizon Wireless customers will be able to get the card reader for free after a $30 mail-in rebate. The application can be downloaded for free; Intuit charges 2.7 percent of each transaction. It also offers a monthly plan that costs $12.95, along with a lower 1.7 percent transaction fee. Verizon customers who opt for the monthly plan will not have to pay the fee for 60 days.

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